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Global Smart Manufacturing Market Size, Share, Analysis: By Component: Hardware, Software, Services; By Technology: Programmable Logic Controller, Supervisory Controller and Data Acquisition, Enterprise Resource and Planning, Human Machine Interface, Others; By End Use; Regional Analysis; Competitive Landscape; 2024-2032
Global Smart Manufacturing Market Outlook
The global smart manufacturing market attained a value of nearly USD 296.44 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 12% to attain nearly USD 821.11 billion by 2032.
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Rising Demand for Fast Data Processing Aiding the Growth of Smart Manufacturing Industry
Advanced technologies and artificial intelligence have replaced the traditional process of manufacturing. Smart manufacturing uses data analytics to ease complicated and difficult processes and also manages the supply chain smoothly. The rising demand for simplified processes in various industries is aiding the market growth of smart manufacturing. Smart machines or robots gather and understand large data that keeps them well informed throughout the manufacturing process. Data is collected, refined and made for the purpose of computing at ease by the robots. With the help of the stored data, the robots can improve machine performance and predict any fault in the manufacturing processes as they can learn from experience. They can predict, and that helps to facilitate better strategies for scheduling production runs. In smart manufacturing system, production processes can automatically generate, transmit and process data without human intervention, consequently bolstering the market growth.
Smart Manufacturing: Definition and Segmentation
Smart manufacturing is defined as bringing the elements of smart technology to the traditional process of production. These technologies help to create new opportunities to accelerate development, reduce waste, and increase production.
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Based on component, the market is divided into:
- Hardware
- Software
- Services
Based on technology, the market is divided into:
- Programmable Logic Controller
- Supervisory Controller and Data Acquisition (SCADA)
- Enterprise Resource and Planning
- Human Machine Interface
- Product Lifecycle Management
- Manufacturing Execution System
- Distributed Control System
- 3D printing
- Others
Based on end use, the market is divided into:
- Automotive
- Aerospace and Defence
- Chemicals and Materials
- Healthcare
- Food and Beverage
- Oil and Gas
- Others
The EMR report looks into the regional markets of smart manufacturing like North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
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Advanced Technology to Bolster the Market Growth of Smart Manufacturing
Industrial robots or smart machines meet the needs of mass demands through their autonomous and well-communicated system. These robots are capable of completing their work in time, and they are assisted by AI that allows them to learn from experience. They are flexible as they can be reconfigured and repurposed. The robots have the ability to respond rapidly to design changes and innovation, which is a competitive advantage over the more traditional manufacturing process, consequently furthering the market growth of smart manufacturing. The fear of the spread of coronavirus has led the production process to be even more dependent on machines. Smart manufacturing assists in workers’ safety. Due to their data research and intelligent learning automation, it makes it easy for workers to operate any function smoothly. In addition to this, workers are no longer exposed to hazards. AI eliminates the inefficiencies and can let robots take on more of the physical tasks of manufacturing, which is a crucial catalyst for the market growth.
Key Industry Players in the Global Smart Manufacturing Market
The report presents a detailed analysis of the following key players in the global smart manufacturing market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- ABB Ltd.
- Emerson Electric Co.
- Rockwell Automation, Inc.
- Mitsubishi Electric Corporation
- FANUC America Corporation
- Schneider Electric SE
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Component |
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| Breakup by Technology |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Smart Manufacturing Market Analysis
8.1 Key Industry Highlights
8.2 Global Smart Manufacturing Market Historical Market (2018-2023)
8.3 Global Smart Manufacturing Market Forecast (2024-2032)
8.4 Global Smart Manufacturing Market by Component
8.4.1 Hardware
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Software
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Services
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Smart Manufacturing Market by Technology
8.5.1 Programmable Logic Controller
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Supervisory Controller and Data Acquisition (SCADA)
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Enterprise Resource and Planning
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Human Machine Interface
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Product Lifecycle Management
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.5.6 Manufacturing Execution System
8.5.6.1 Historical Trend (2018-2023)
8.5.6.2 Forecast Trend (2024-2032)
8.5.7 Distributed Control System
8.5.7.1 Historical Trend (2018-2023)
8.5.7.2 Forecast Trend (2024-2032)
8.5.8 3D Printing
8.5.8.1 Historical Trend (2018-2023)
8.5.8.2 Forecast Trend (2024-2032)
8.5.9 Others
8.6 Global Smart Manufacturing Market by End Use
8.6.1 Automotive
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Aerospace and Defence
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Chemicals and Materials
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Healthcare
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Food and Beverage
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
8.6.6 Oil and Gas
8.6.6.1 Historical Trend (2018-2023)
8.6.6.2 Forecast Trend (2024-2032)
8.6.7 Others
8.7 Global Smart Manufacturing Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Smart Manufacturing Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Smart Manufacturing Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Smart Manufacturing Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Smart Manufacturing Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Smart Manufacturing Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 ABB Ltd.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Emerson Electric Co.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Rockwell Automation, Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Mitsubishi Electric Corporation
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 FANUC America Corporation
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Schneider Electric SE
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Smart Manufacturing Market: Key Industry Highlights, 2018 and 2032
2. Global Smart Manufacturing Historical Market: Breakup by Component (USD Million), 2018-2023
3. Global Smart Manufacturing Market Forecast: Breakup by Component (USD Million), 2024-2032
4. Global Smart Manufacturing Historical Market: Breakup by Technology (USD Million), 2018-2023
5. Global Smart Manufacturing Market Forecast: Breakup by Technology (USD Million), 2024-2032
6. Global Smart Manufacturing Historical Market: Breakup by End Use (USD Million), 2018-2023
7. Global Smart Manufacturing Market Forecast: Breakup by End Use (USD Million), 2024-2032
8. Global Smart Manufacturing Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global Smart Manufacturing Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America Smart Manufacturing Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America Smart Manufacturing Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe Smart Manufacturing Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe Smart Manufacturing Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific Smart Manufacturing Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific Smart Manufacturing Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America Smart Manufacturing Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America Smart Manufacturing Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa Smart Manufacturing Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa Smart Manufacturing Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Global Smart Manufacturing Market Structure
Key Questions Answered in the Report
In 2023, the global smart manufacturing market attained a value of nearly USD 296.44 billion.
The market is projected to grow at a CAGR of 12% between 2024 and 2032.
The market is being driven by the rising use of artificial intelligence in the manufacturing market, rapid industrialisation, and the growing demand from the end use industries.
The key trends of the market include the rising demand for data processors and the rapid advancements in connectivity technologies like 5G.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The significant components available in the market are hardware, software, and services.
The different technologies available in the market are programmable logic controller, supervisory controller and data acquisition (SCADA), enterprise resource and planning, human machine interface, product lifecycle management, manufacturing execution system, distributed control system, and 3D printing, among others.
The major end uses of smart manufacturing are automotive, aerospace and defence, chemicals and materials, healthcare, food and beverage, and oil and gas, among others.
The key players in the global smart manufacturing market are ABB Ltd., Emerson Electric Co., Rockwell Automation, Inc., Mitsubishi Electric Corporation, FANUC America Corporation, and Schneider Electric SE, among others.
The market is estimated to witness a healthy growth in the forecast period 2024-2032 to reach nearly nearly USD 821.11 billion by 2032.
Analyst Review
The global smart manufacturing market attained a value of nearly USD 296.44 billion in 2023, driven by the increasing use of artificial intelligence in manufacturing industry. Aided by the rapid industrialisation, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 12%. The market is projected to reach nearly USD 821.11 billion by 2032.
EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on component, the smart manufacturing industry can be segmented into hardware, software, and services. On the basis of technology, the industry is divided into programmable logic controller, supervisory controller and data acquisition (SCADA), enterprise resource and planning, human machine interface, product lifecycle management, manufacturing execution system, distributed control system, and 3D printing, among others. On the basis of end use, the industry is divided into automotive, aerospace and defence, chemicals and materials, healthcare, food and beverage, oil and gas, among others. The major regional markets for smart manufacturing are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above industry include ABB Ltd., Emerson Electric Co., Rockwell Automation, Inc., Mitsubishi Electric Corporation, FANUC America Corporation, and Schneider Electric SE, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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